Hendershot Investments Inc. Buys 914 Shares of ResMed Inc. (NYSE:RMD)

Hendershot Investments Inc. lifted its stake in shares of ResMed Inc. (NYSE:RMD) by 2.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 45,456 shares of the medical equipment provider’s stock after acquiring an additional 914 shares during the period. ResMed makes up 1.4% of Hendershot Investments Inc.’s investment portfolio, making the stock its 24th biggest position. Hendershot Investments Inc.’s holdings in ResMed were worth $10,395,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in RMD. Wilmington Savings Fund Society FSB lifted its holdings in shares of ResMed by 12.5% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 888 shares of the medical equipment provider’s stock worth $203,000 after acquiring an additional 99 shares during the last quarter. Apollon Wealth Management LLC boosted its position in ResMed by 14.3% during the fourth quarter. Apollon Wealth Management LLC now owns 1,659 shares of the medical equipment provider’s stock valued at $379,000 after buying an additional 208 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of ResMed by 1.8% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,821 shares of the medical equipment provider’s stock valued at $3,618,000 after buying an additional 273 shares during the last quarter. Silver Oak Securities Incorporated lifted its stake in shares of ResMed by 14.7% in the 4th quarter. Silver Oak Securities Incorporated now owns 5,542 shares of the medical equipment provider’s stock valued at $1,272,000 after acquiring an additional 709 shares during the last quarter. Finally, Caitlin John LLC boosted its holdings in ResMed by 2.9% during the 4th quarter. Caitlin John LLC now owns 8,827 shares of the medical equipment provider’s stock valued at $2,019,000 after acquiring an additional 252 shares during the period. Institutional investors own 54.98% of the company’s stock.

Insider Transactions at ResMed

In other ResMed news, Director Witte Jan De sold 796 shares of ResMed stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total transaction of $198,052.76. Following the transaction, the director now owns 6,723 shares of the company’s stock, valued at $1,672,749.63. The trade was a 10.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Justin Leong sold 6,160 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the sale, the insider now owns 21,718 shares in the company, valued at $5,279,428.62. The trade was a 22.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,094 shares of company stock worth $2,704,941 in the last three months. Corporate insiders own 0.71% of the company’s stock.

ResMed Price Performance

Shares of RMD opened at $236.84 on Friday. The company has a market capitalization of $34.78 billion, a P/E ratio of 27.96, a price-to-earnings-growth ratio of 1.57 and a beta of 0.70. ResMed Inc. has a twelve month low of $170.56 and a twelve month high of $263.05. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average of $239.43 and a 200 day moving average of $237.19.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. As a group, equities research analysts anticipate that ResMed Inc. will post 9.44 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s dividend payout ratio is presently 25.03%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on RMD shares. KeyCorp boosted their price objective on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. The Goldman Sachs Group initiated coverage on ResMed in a research note on Thursday, January 16th. They issued a “buy” rating on the stock. Finally, JPMorgan Chase & Co. boosted their target price on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, ResMed has a consensus rating of “Moderate Buy” and a consensus target price of $244.73.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.